THE REASON WHY we had a collapse in the economy is simply because the powers that be that control the flow of cash have painted themselves into a corner.
The easy solution to our economic crash is simply to absolve whole portions of the populace of their debt repayments. The fact is they were lent that money by banks that didn’t even have it in the first place. Without a certain level of bad debt the economy couldn’t spin. The usual cry is rob from the rich and give to the poor. However, the only rich they’re interested in robbing from are you and me.
And you thought Julius Malema was just off his noddy? Sounds to me he’s working for the European Union.
Cancelling large volumes of debt and getting the paper back into circulation is the only way to get the thing moving. Bailouts don’t resolve the problem, simply because it gets swallowed up again in interest repayments and perpetuates the cycle.